Ethereum Is on the Rise as It Surpasses the $3,000 High

Ethereum (ETH) Current Statistics
The current price: $3,057.51
Market Capitalization: $367,430,395,483
Trading Volume: $12,833,541,778
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis February 25, 2024
Ethereum’s (ETH) price has made positive moves as it surpasses the $3,000 psychological price level. On February 20, the $3,000 high was retested but buyers failed to sustain the bullish momentum above the recent high. However, the recent high has been overcome after a price rebound above the $2,900 support.

ETH/USD rebounded above the current support and breached the recent high. Today, Ether is trading at $3,036.80 at the time of writing. On the upside, if the $3,000 support holds, the bullish momentum will extend to the high of $3,300. On the downside, the $3,000 resistance is now a support level.

The selling pressure will resume if the bears beach below the current support at $3,000.

ETH Technical Indicators Reading
Ether’s price bars are well above the moving average lines after breaking above the $3,000 high. On the 4-hour chart, the moving average lines are sloping northward, while the 21-day SMA acts as the support line.

Conclusion
On the 4-hour chart, Ether is trading in a range between $2,900 and $3,000 as it surpasses the $3,000 high. The crypto’s price retested the recent high thrice before the breakout. Ether is rising now as it approaches the high of $3,080.

The crypto signal remains bullish as Ether continues its bullish run.

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